4 Gold Coin Bargains

As this article is written in May 2021, gold prices hover between $1,800 and $1,900 an ounce – that’s way up, to be sure, from a few years ago, but down from the record high price of $2,060 in summer 2020 during the height of the COVID-19 pandemic. What’s a gold investor to do? It seems like many people are on the fence about buying or selling their gold coins right now, not sure if we’re in a holding pattern before more big drops or just waiting for the next big push beyond $2,000.

We certainly don’t have a crystal ball at PCGS and we’re not in the game of prognosticating what gold prices might be tomorrow, next week, next month, or next year. But we’d be remiss if we didn’t discuss some of the collectible gold coins that are currently selling for relatively small premiums over their melt values. Here are four vintage gold coins that those who are interested in buying gold now may want to consider buying for their collections or investment portfolios:

Common-Date Liberty Head Double Eagles

These large vintage United States gold coins were struck from 1849 through 1907 and carry a design by James B. Longacre. The series contains many rarities worth tens of thousands of dollars or more in top grades, but there are also dozens of common dates, principally from the last couple decades of the series, that trade for small figures over spot price. The Liberty Head $20, with its obverse depiction of Miss Liberty and stylized heraldic eagle reverse, contains 0.96750 ounces of gold – nearly a full ounce of the precious yellow metal.

These latter-dated $20 “Libs” are enjoying a surge in popularity these days not just because of collector interest but also due to an influx of investors who have found that these coins are now priced at but a small percentage above their spot value in grades as high as MS62 and MS63. The small spread between spot and market price means $20 Liberty Head gold coins represent a great bargain for gold investors who also want a coin with crossover appeal. Besides, the U.S. Mint isn’t making these old gold coins anymore, so even the most “common” of dates offer but a limited pool of survivors.

Common-Date Saint-Gaudens Double Eagles

Widely considered the most beautiful coin in the world, the Saint-Gaudens Double Eagle is named for famed eponymous sculptor Augustus Saint-Gaudens. He was personally commissioned by President Theodore Roosevelt to redesign all circulating United States coins from cent through double eagle. Unfortunately, he died having had the opportunity to complete designs for only the eagle and double eagle, with sketches for a new United States one-cent coin left behind for numismatists to ponder what might have been.

But his Saint-Gaudens Double Eagle lives on as one of the artist’s greatest legacies, with an iconic image of Miss Liberty striding before the United States Capitol and a rising sun on the obverse and an American eagle soaring before the sun disc on the reverse. Common dates in grades as high as MS63 and MS64 can be had for relatively tiny premiums above spot price. Like its $20 Lib predecessor, the Saint-Gaudens $20 boasts 0.96750 ounces of gold. This gives both collectors and investors the opportunity to own one of the most famous of all United States coins in gorgeous uncirculated condition for little more than a song.

British Sovereigns

Sovereigns are the gold coin of British origin that have been struck by Great Britain and many United Kingdom Commonwealth nations since as early as 1817. These coins of one pound sterling face value contain about a quarter ounce of gold (0.2354 ounces) and feature on their obverse the likeness of the British monarch who was reigning at the time of a given coin’s production; the reverse carries the long-running visage of Saint George on horseback defeating a dragon.

The Sovereign is in many respects the archetypal British coin – surely a fantastic numismatic representative of Great Britain and the many British interest spread around the world. If a collector ever wanted just one coin in their world type set to serve as a proxy for the United Kingdom, the Sovereign would be a sensational selection. And with prices for many of these classic gold coins barely above spot, one has the chance to buy a brilliant specimen without spending a fortune.

French 20 Franc Roosters

Issued from 1899 through 1914 and struck by the Paris Mint, the French 20 Franc Roosters are a classic gold type that has long captivated coin collectors and precious metals speculators alike. The obverse features Marianne, who is France’s symbolic representation of liberty. The reverse, bearing France’s unofficial symbol, the Gallic rooster, provides the namesake for this gold type.

The 20 Franc Rooster contains 0.1867 ounces of gold and, with millions struck across 15 years of production, they are collectively common enough that most specimens can be bought for only a small premium over spot in grades ranging into uncirculated territory. With its beautiful design, historic origins, and relative affordability, the French 20 Franc Rooster makes a terrific addition to any coin collection or gold portfolio at a price that will make you want to il faut battre le fer tant qu'il est chaud… Ahem, we mean “strike the iron while it is hot.”